Brief: Odyssey Marine Exploration Expands Mineral Portfolio

Odyssey Marine Exploration

15/07/2019 14:10

July 15 (Reuters) - Odyssey Marine Exploration Inc  OMEX.O :
    * ODYSSEY MARINE EXPLORATION EXPANDS MINERAL PORTFOLIO
    * ODYSSEY MARINE EXPLORATION - ACQUIRED 79.9% EQUITY
INTEREST IN
BISMARCK MINING CORPORATION (PNG) LTD FOR 249,584 SHARES OF CO'S
COMMON STOCK
    * ODYSSEY MARINE EXPLORATION - BISMARCK, SELLER ENTERED
ROYALTY
AGREEMENT THAT PROVIDES FOR BISMARCK TO PAY SELLER A 2.496% NET
SMELTER ROYALTY
    * ODYSSEY MARINE EXPLORATION INC - LICENSE AREA IS ADJACENT
TO
LIHIR ISLAND IN PAPUA NEW GUINEA
    * ODYSSEY MARINE EXPLORATION INC - TRANSACTION VALUES
BALANCE OF
ODYSSEY'S REMAINING INTEREST IN PROJECT AT $10 MILLION
    * ODYSSEY MARINE EXPLORATION INC - ACQUISITION WAS ACHIEVED
IN A
NON-CASH TRANSACTION
    * ODYSSEY MARINE EXPLORATION INC - MODEST DILUTIVE IMPACT
FROM
DEAL
    * ODYSSEY MARINE EXPLORATION INC - AS REQUIRED BY GAAP,
THERE IS
CURRENTLY NO VALUE ASSIGNED TO ASSET ON ODYSSEY'S BALANCE SHEET

Source text for Eikon:  ID:nGNX1YYrHT 
Further company coverage:  OMEX.O 

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